Zscaler Target of Unusually Large Options Trading (NASDAQ:ZS)

Zscaler, Inc. (NASDAQ:ZS) saw unusually large options trading on Thursday. Stock investors bought 17,246 call options on the company. This represents an increase of approximately 17% compared to the typical daily volume of 14,766 call options.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price target on Zscaler from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday. Bank of America lowered Zscaler from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $265.00 to $195.00 in a research report on Wednesday, September 4th. Oppenheimer raised their price target on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday. UBS Group reduced their price objective on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Finally, Scotiabank increased their price objective on shares of Zscaler from $195.00 to $205.00 and gave the company a “sector outperform” rating in a report on Tuesday. Eleven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, Zscaler presently has an average rating of “Moderate Buy” and a consensus target price of $224.84.

Insiders Place Their Bets

In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the sale, the chief executive officer now directly owns 361,432 shares of the company’s stock, valued at $61,906,072.96. The trade was a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the transaction, the insider now owns 105,806 shares in the company, valued at $19,224,950.20. This trade represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock worth $5,256,651 over the last quarter. 18.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zscaler

Hedge funds have recently made changes to their positions in the business. Quest Partners LLC bought a new stake in Zscaler during the second quarter worth approximately $28,000. Prestige Wealth Management Group LLC purchased a new position in Zscaler during the 3rd quarter worth $31,000. True Wealth Design LLC raised its holdings in shares of Zscaler by 18,500.0% in the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after acquiring an additional 185 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Zscaler in the 3rd quarter worth approximately $38,000. Finally, Asset Dedication LLC lifted its holdings in Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after buying an additional 166 shares during the period. Institutional investors own 46.45% of the company’s stock.

Zscaler Trading Down 0.4 %

ZS stock opened at $205.61 on Friday. The stock’s 50 day simple moving average is $191.98 and its 200 day simple moving average is $185.29. Zscaler has a 12-month low of $153.45 and a 12-month high of $259.61. The stock has a market capitalization of $31.55 billion, a PE ratio of -825.44 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.63 by $0.14. The company had revenue of $628.00 million during the quarter, compared to analyst estimates of $605.51 million. Zscaler had a negative return on equity of 0.80% and a negative net margin of 1.58%. Zscaler’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.18) earnings per share. On average, research analysts predict that Zscaler will post -0.95 earnings per share for the current year.

Zscaler Company Profile

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.